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What's going on with TATA Steel ?

Discussion in 'Technical Analysis' started by naveen1241, Mar 11, 2014.

  1. naveen1241

    naveen1241 Responder

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    Hi All,

    What's going on with TATA Steel and how to play?

    Thanks
    Naveen
     
    naveen1241, Mar 11, 2014
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  2. shabbir

    shabbir Administrator Staff Member

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    Avoid or wait to see if 340 cracks or not in next 3 to 4 trading sessions.
     
    shabbir, Mar 12, 2014
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  3. naveen1241

    naveen1241 Responder

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    Thank you
     
    naveen1241, Mar 12, 2014
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  4. saptarshi_sachin

    saptarshi_sachin Responder

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    Tata Steel has cracked below 340.... On account of bad China growth data that came in today

    Another Tata Steel mayhem! Expecting more downside soon....
     
    saptarshi_sachin, Mar 13, 2014
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  5. hirenrachh

    hirenrachh Member

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    it may stop at 324 or even lower?

    regards
    Hiren
     
    hirenrachh, Mar 15, 2014
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  6. naveen1241

    naveen1241 Responder

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    Any change in downtrend identified ?
     
    naveen1241, Mar 20, 2014
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  7. shabbir

    shabbir Administrator Staff Member

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    Not Yet
     
    shabbir, Mar 20, 2014
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  8. saptarshi_sachin

    saptarshi_sachin Responder

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    Hi Shabbir,

    Is Tata Steel forming a 'W' pattern? Its not a 100% perfect 'W' but almost 80% W.

    In that case, can Tata Steel be bought at cmp 350 with tgt of 365 stop of 335 ?
     
    saptarshi_sachin, Mar 20, 2014
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  9. shabbir

    shabbir Administrator Staff Member

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    No not yet. My guess is it is lower top lower bottom
     
    shabbir, Mar 21, 2014
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  10. naveen1241

    naveen1241 Responder

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    I got in to Tata Steel without seeing any technicals at 348, and quit half part @ 362 and 1/4 today @ 401.5 and holding 1/4. What does the charts say now?

    Thanks
    Naveen
     
    naveen1241, Apr 1, 2014
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  11. shabbir

    shabbir Administrator Staff Member

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    Hold till you see a red candle.
     
    shabbir, Apr 1, 2014
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  12. naveen1241

    naveen1241 Responder

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    Thank you Shabbir.

    :( But this also means that I should have exited Canara Bank today. Actually, I Canara didn't run up as I had expected, in comparison to PNB, BOB etc. That's what keeps me invested.

    Thanks once again

    Regards,
    Naveen
     
    naveen1241, Apr 1, 2014
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  13. shabbir

    shabbir Administrator Staff Member

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    The pleasure is all mine.
     
    shabbir, Apr 1, 2014
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  14. saptarshi_sachin

    saptarshi_sachin Responder

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    Hi Shabbir,

    Has Tata Steel formed 'W' ? If it is, its already completed.. is it?

    If yes, then any more upside left? Please advice.
     
    saptarshi_sachin, Apr 2, 2014
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  15. shabbir

    shabbir Administrator Staff Member

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    I don't think it make sense to be getting into this stock now because SL is too low. If you are in it, you can just let the ride with trailing stop loss.
     
    shabbir, Apr 2, 2014
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